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(IT-NEWSWIRE.COM, March 30, 2018 ) The Global Electric Motor Sales Market was valued at USD 94.32 billion in 2016 and is projected to reach USD 164.01 billion by 2025, growing at a CAGR of 6.34% from 2017 to 2025.
An Electric Motor is an electrical machine that converts electrical energy into mechanical energy. This market has wide application in industrial fans, blowers and pumps, machine tools, household appliances, power tools, and disk drives, electric motors can be powered by direct current (DC) sources or by alternating current (AC) sources. Benefits of an electric motor include – low initial cost, long life, low maintenance requirements, high efficiency, and occupational safety.
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The major players in the market are as follows:
Siemens AG, Nidec Corporation, Allied Motion Technologies, Inc., Bosch Group, Hitachi, Ltd., Regal Beloit Corporation, WEG, ARC Systems, Inc, ABB Ltd., General Electric Company, Denso Corporation, Ametek, Inc., Emerson Electric Co., Johnson Electric Holdings Limited, Rockwell Automation
An electric motor is the most important component used in the manufacturing of Heating, Ventilating, and Cooling (HVAC) equipment, motor vehicles, and other home appliances. Currently, the demand for electric motors is gaining traction, owing to the technological advancements and advent of better insulation materials that have improved efficiency and operational life of the motors.
Market Dynamics:
1. Market Drivers
1.1 Rising market potential for electric vehicles in emerging countries
1.2 Emerging robotics technology
1.3 Increasing application in commercial and residential sectors
1.4 Increasing focus energy-efficient motors
1.5 Growing usage of electric motors across major industries
2. Market Restraints
2.1 Rising maintenance cost for brushed DC motors
2.2 Gray market providing low-quality and inexpensive products
2.3 Motor failure due to overheating
Market Segmentation:
The Global Electric Motor Sales Market is segmented on the basis of voltage, output power, type, end user, and region. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology:
Research study on the Global Electric Motor Sales Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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